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Silver Trustee: Ser & Associates

SMALL BUSINESS RESOURCES AND UPDATES

April 1, 2020

Coronavirus Small Business Resources and Updates

Short Time Compensation Program for Employers
If you are an employer struggling to retain your employees during the Coronavirus pandemic, and you are choosing not to apply for one of the Federal government subsidized loans or you are not eligible, you may want to consider the Florida Department of Economic Opportunity’s Short Time Compensation Program for Employers (“STC”), which helps employers retain their workforce in times of a temporary slowdown, such as now.

The STC program permits prorated reemployment assistance benefits to employees, but it is the employer who must apply before an employee can receive the STC benefit.

The STC Program’s goals include:

  1. Helping employees retained during a temporary slowdown resume regular work when business conditions improve and prevent full unemployment.
  2. Helping employers avoid the expense of hiring and training new employees when business conditions improve.
  3. Helping employers use the STC program as a transition for laying off employees while allowing these affected employees to work reduced hours with an opportunity to find new employment before the expected layoff.

STC benefits are payable when normal hours of work are reduced from 10-40 percent. For every week that STC benefits are claimed, at least 10 percent of the employees from the total staff or within a particular unit must have their working reduced hours.

In order to qualify for the program, the employer must meet the following eligibility requirements:

  1. The employer must describe a plan for giving notice to an employee whose workweek is to be reduced, together with an estimate of the number of layoffs that would have occurred absent the ability to participate in the STC program.
  2. If the employer is a client company trying to apply for a plan for leased employees, contact the leasing company. The leasing company will need to file a plan separately on behalf of their employees.
  3. Reduced hours must be used as a temporary solution to avoid a layoff. The employer must submit a STC plan application to the STC Coordinator, Reemployment Assistance Services
  4. Participating employees must be full-time permanent employees (at least 32 hours per week prior to STC reduction).

To apply for the STC Program, visit this link https://connect.myflorida.com/Employer/Core/Login.ASPX

Ser & Associates is committed to the small business community and is working with many small businesses trying to find their way through these very difficult times. If you believe your business has been affected by the Coronavirus and you would like to discuss the applicability of the new directives to your business, contact us at 305-222-7282 so that we may assist you.

*** At Ser & Associates, we provide a business approach to legal services. Our mission is to work with small businesses and their owners with a one-stop shop approach that includes business and contract law, residential & commercial real estate (buy/sell, leasing), Land Use & Zoning, government contracting, minority certification, litigation, estate planning, intellectual property (trademarks/copyrights) and wealth protection. We also offer the MyGC/My General Counsel® Program to those business owners requiring on-going legal services at an affordable monthly rate. Contact us at Info@Ser-Associates.com or 305-222-7282 for a free consultation.


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